Macro & fiscal policy

→ Geoeconomic tensions have spurred diversification strategies such as China+1, nearshoring, and friendshoring, reshaping value chains to reduce concentration risks in China. → Although Chinese exports are rerouted through third countries (Mexico, Vietnam), recent U.S. “Liberation Day” tariffs curb these tactics, yet six in ten companies have already altered their logistics routes in 2025. → […]

→ Both the U.S. and EU have shifted toward protectionist policies and industrial subsidies (Infrastructure Investment and Jobs Act, CHIPS Act, IRA; European Chips Act, MRR), reversing the era of tariff openness and raising regulatory uncertainty. → Discretionary tariff exemptions and the unpredictability of new trade barriers complicate business planning, raise capital costs, and disrupt […]

→ The Trump administration views the EU as a commercial and political rival, exercising transactional isolationism and tariffs that threaten a rules-based international order. → To reduce risks, the EU must deepen internal integration (banking union, capital markets union, fiscal union) and issue joint debt to finance security, defense, and infrastructure, thereby enhancing economic resilience. […]

→ Global geopolitical fragmentation has outpaced traditional macroeconomic institutions, and Europe must strengthen its economic sovereignty through reforms that reduce dependence on the U.S.-led financial system. → The ECB and European Commission should leverage the euro and its full potential (digital euro, joint debt issuance, capital markets union) to bolster financial autonomy and mitigate vulnerability […]

En este artículo publicado originalmente en el Informe Económico y Financiero que publicamos en marzo de 2025 con el apoyo del Banco Sabadell, las economistas Cristina Barceló y Laura Crespo (Banco de España) analizan a fondo cómo ha cambiado la propiedad de vivienda y el endeudamiento por esta vía en nuestro país. Con datos de […]

En un contexto marcado por la fractura del orden económico mundial —con nuevos bloques comerciales y cadenas de suministro reconfigurándose— presentamos el Informe Económico y Financiero #37 (con el apoyo de Banco Sabadell). El encuentro repasará las tendencias internacionales y nacionales más recientes y debatirá sus implicaciones para la economía española, con especial foco en […]

Since the launch of the European Recovery and Resilience Facility (RRF), analyzing and tracking the execution of funds allocated to Spain has been essential to evaluate not only economic absorption but also their capacity to drive significant transformations in the Spanish economy, as outlined in the Recovery, Transformation, and Resilience Plan. At EsadeEcPol, we have […]

¿Qué ha pasado con la inflación en 2024? Recogemos por tercer año consecutivo el ejercicio que ya realizamos en 2022 y 2023 para observar cuáles han sido los determinantes de la inflación, y a quién ha afectado más (o menos). En 2024, los principales componentes que han impulsado la inflación han sido el precio de […]

On June 15, 2023, the government launched a 50% subsidy on the price of high-speed tickets (up to a maximum of €30 bonus), aimed at young people. The measure was aimed at young people between 18 and 30 years of age and was explicitly intended to improve their access to this type of travel. The […]

On Wednesday, October 11, at 10:30 a.m., Pablo Bustinduy, Minister of Social Rights, held an in-person conversation with Toni Roldán, Director of EsadeEcPol. They discussed the care agenda and the challenges facing our welfare systems.

Análisis publicado junto a Oxfam Intermón. Ideas clave En 2022, casi 8 de cada 10 beneficiarios potenciales no recibe el bono social eléctrico: su tasa de cobertura está en 24,5%, siendo especialmente alta para familias numerosas (45,5%). Una buena parte de los que sí se benefician del bono social no son familias vulnerables: entre los […]

El próximo miércoles 18 de septiembre a las 12:30h Carlos Cuerpo, Ministro de Economía, Comercio y Empresa, conversará con Toni Roldán, director de EsadeEcPol de manera presencial. Abordarán la actual coyuntura macroeconómica, las perspectivas a medio plazo, así como las reformas estructurales (hechas, en marcha o pendientes) y los retos a largo plazo que enfrenta […]